secwatch.observer — SEC 8-K summary
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Issuer:     INDEPENDENT BANK CORP (INDB)
CIK:        0000776901
Form:       8-K
Filed at:   2024-05-28T23:59:59+00:00
Accession:  0000776901-24-000131
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

INDB Q1 2024 net income $47.8M ($1.12 EPS); updates strategy in investor presentation
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- Q1 2024 net income $47.8M, diluted EPS $1.12; operating ROATCE 10.15% and NIM 3.23%.
- Total assets $19.3B; loans $14.3B; deposits $15.0B; tangible book value $44.34 per share.
- Repurchased 532,266 shares for $31M in Q1 2024; capital remains strong.
- CRE office exposure $1.05B (11.7% of CRE); criticized assets $114.9M; proactive management.
- Focus on deposit growth, expense efficiency, risk management, and M&A assessment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/776901/000077690124000131/0000776901-24-000131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/776901/000077690124000131/indb-20240528.htm
  HTML page:      https://secwatch.observer/filing/0000776901-24-000131

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